1. Mortgage Life Insurance
Name, DESIGNATION Title, Company Name
Date

2. Mortgage Life Insurance
Before your clients say yes to mortgage insurance, let them know they have other options.

3. Mortgage Life Insurance
Your clients can purchase mortgage insurance from a bank or another lending institution when their mortgage loan is approved
They can purchase an individually-owned term insurance plan from Manulife Financial

4. Mortgage Life Insurance
With mortgage insurance from most lenders:
Lender is the sole beneficiary so the life insurance benefit goes directly to the lender -- not your client’s family
As the mortgage decreases so does the benefit amount, but the premiums remain the same
If your client switches lenders, they have to reapply for new mortgage insurance which could lead to higher premiums because they're older or they may not qualify
The premiums and terms of the insurance may not be guaranteed and could be changed by the lender at any time.

5. Mortgage Life Insurance
With Family Term insurance from Manulife:
Beneficiary can use the tax-free life insurance benefit however they want
Even if the mortgage decreases, the life insurance benefit stays the same
Client can transfer their mortgage to a different lending institution and their mortgage life insurance coverage goes with them
Client can cancel or alter their coverage when they choose

6. Mortgage Life Insurance
The client is in charge with personal mortgage insurance
Benefit
Manulife's Family Term
Creditor Mortgage Insurance
Client chooses beneficiary
Yes No
Insure any amount
Benefits remain level
Premiums and benefits guaranteed

7. Mortgage Life Insurance
Take a look at the difference in cost:
Age
Sample Creditor Mortgage insurance
Manulife's Family Term-10
Manulife's Family
Term-20
Manulife’s Family
Term-65 30
$19.44
$17.90
$20.74
$31.60 35
$28.08
$18.60
$23.45
$35.22 40
$43.20
$22.64
$30.10
$42.27 45
$62.64
$31.06
$46.03 50
$86.40
$45.45
$71.98
N/A
Monthly premiums for: Male, non-smoker, Standard Risk (Healthstyle 3), $200,000, monthly premiums.
Sample creditor mortgage protection mortgage insurance rates includes per cent PST (Ontario)

8. $ Mortgage Life Insurance
Your clients get more for their money with Manulife’s
Family Term insurance
Four coverage choices
Term-10
Term-20
Term-65
Term Life (T100)

9. Mortgage Life Insurance (cont’d)
Flexibility
Increase and decrease coverage
Switch coverage options
Add and delete coverage's or lives
Convert part or all of coverage to permanent insurance
Combined coverage option
Covers two lives with a 3% discount on the cost of insurance

10. Mortgage Life Insurance
Family Term from Manulife is the only mortgage insurance that makes sense.

11. Thank you